Global healthcare IT market to reach $280.25B by 2021

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A new report from MarketsandMarkets found the global healthcare IT market will increase from $134.25 billion in 2016 to $280.25 billion in 2021.

This accounts for a compound annual growth rate of 15.9 percent over the five-year period.

Here are three things to know from the report.

1. There are various drivers of the market growth, including the adoption of EHRs and health information exchanges. The need to decrease healthcare costs while also obeying government regulations also contributes to the market growth.

2. Healthcare provider solutions made up the greatest share of the market in 2015.

3. The report analyzed the healthcare IT markets across various regions: Africa, Asia-Pacific, Latin America, North America, Europe and the Middle East. In 2015, North America made up the largest share of the market, followed by Europe and Asia-Pacific.

Click here to learn more about the report, which is titled Healthcare IT Market by Product (EHR, RIS, PACS, VNA, CPOE, HIE, Telehealth, Healthcare Analytics, Population Health Management, Supply Chain Management, CRM, Fraud Management, Claims Management) End User (Provider, Payer) – Global Forecast to 2021.

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